Steemit Crypto Academy Season 2 Week 4 Homework Task for @pelon53

Hello fellow Steemians.

I'm excited about joining this week's Crypto Academy lessons. This lesson by professor @pelon53 has been very interesting and it's been an eye opener once more to the beauty of blockchain technology.

Without further ado, I'll begin this assignment post.

(1) Explain the ERC-1155 Token in detail.

Everytime I attend the Crypto Academy lessons, I'm always surprised by the extra I learn about the crypto space. Like prof @pelon53 stated, ERC-20 token standard basically offers fungibility while ERC-721 standard basically offers non-fungibility. Then there's the ERC-1155 token standard. What is the technology about?

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ERC-1155 Token
The ERC-1155 token standard allows for the creation of Fungible, non-fungible and semi-fungible token. It's a three-in-one package. It allows for the execution of these three properties in one smart contract. It's basically the combination of the ERC-20 and the ERC-721 token standards.

The ERC-1155 token was created by Enjin with the sole goal of using these tokens across different games within the Enjin platform. The tokens are tradable between games in the platform, which means that a unique object or property in a particular game can be traded for another in a different game which was developed by Enjin. As a result of this development, the ERC-1155 token is popularly called the enjin token.

The ERC-1155 token was also developed to make up for the limitations which the ERC-20 and ERC-721 possessed. It allows for resources to be used more efficiently, supports mass transfers and multiple tokens within the smart contract. The security of token transfer is also a merit of the ERC-1155 token.

Structure of the ERC-1155 token

ERC-1155 tokens are created using the following structure:

Token Name: This is the name for the created token.

Token Symbol: This is the abbreviation that represents the token Symbol.

Token Decimals: This represents the number of units which the token would be divided into.

Total Supply: Total amount of tokens supplied

BalanceOf: Reports the balance of am address

Transfer: For transfer of tokens between addresses.

TransferFrom: Transfer of tokens from a third party to an address

Authorize: Approves withdrawal

(2) Explain how you verify the amount of ERC-721 tokens existing at the time of doing your homework. Present screenshot (use etherscan)

Step 1: Open etherscan and select the "three parallel lines" at the top right corner.

Step 2: Select Tokens. A drop-down will appear.

Step 3: Select "ERC721 Top Tokens". A new page will load showing the number of ERC-721 tokens and the tokens by rank.

A total number of 11,067 ERC-721 tokens exist as at the time this post was created

(3)Explain the TRC20 Token and check the amount of TRC20 tokens existing at the time of doing your homework. Present screenshot (use tronscan)

TRC20 Token

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The TRC20 Token is the native token of the Tron blockchain which is very similar to the ERC20 token of the Ethereum blockchain. They are standard for the execution of smart contracts on the Tron Virtual Machine (TVM) for implementing tokens. The TRC20 Token is a hundred percent compatible with the ERC20 token and is traders' and investors' favourite.

TRC20 tokens are created with the structure below:

Token Name: This is the name for the created token.

Token Symbol: This is the abbreviation that represents the token Symbol.

Token Decimals: This represents the number of units which the token would be divided into.

Total Supply: Total amount of tokens supplied

BalanceOf: Reports the balance of an address

Transfer: For transfer of tokens between addresses.

TransferFrom: Transfer of tokens from a third-party to an address

Authorize: Approves withdrawal

How to check the amount of TRC20 Tokens

Step 1: Open tronscan and select the "three parallel lines" at the top right corner

Step 2: Select Token Tracker

Step 3: Select TRC20. The number of TRC20 tokens will be displayed

A total number of 15,870 TRC20 tokens exist as of the time of making this post.

Conclusion

I have explained what the ERC-1155 token is and have shown with detailed steps on how to show the number of ERC-721 tokens that exist.

I have also explained what a TRC20 Token is with detailed steps on how to verify the amount of TRC20 tokens that are present.

Thank you for reading